Belle International joins up-for-sale footwear groups
02/05/2017
Asian investment groups Hillhouse Capital, Tencent, Midea, CDH are reported to be working with two Belle executives to acquire the company, with $6.8 billion as the price tag. Trade in shares in Belle, which floated on the Hong Kong Stock Exchange ten years ago, has been suspended, according to the South China Morning Post.
Founded in Hong Kong, Belle built itself from a small outlet in the city’s Yau Ma Tei district to an Asian shoe retailing empire that now has more than 13,000 stores selling shoes across China. It has 13 brands of its own, including Belle, Joy & Peace and Mirabell. However, the group also runs stores in China for seven international brands (Bata, Mephisto, CAT, Hush Puppies, Fitflop, Clarks and Merrell).
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